AUD/USD edged higher to 0.7275 last week but quickly retreated. Initial bias remains neutral this week first and further rise remains in favor as long as 0.7109 support holds. Above 0.7275 will extend the rise from 0.5506 to 0.7311 long term EMA. However, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6817). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7311) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.7153; (P) 0.7177; (R1) 0.7219; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise could be seen as long as 0.7109 support holds. Break of 0.7275 will target 0.7311 long term EMA. Nevertheless, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7150; (P) 0.7213; (R1) 0.7247; More…

AUD/USD retreated sharply after hitting 0.7275 and intraday bias is turned neutral. Further rise could be seen as long as 0.7109 support holds. Break of 0.7275 will target 0.7311 long term EMA. Nevertheless, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7214; (P) 0.7240; (R1) 0.7270; More…

Intraday bias in AUD/USD remains on the upside at this point. Current rise from 0.5506 should target 0.7311 long term EMA. On the downside, break of 0.7109 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7145; (P) 0.7160; (R1) 0.7188; More…

AUD/USD’s break of 0.7243 resistance suggests rally resumption. Intraday bias is back on the upside as rise from 0.5506 should target 0.7311 long term EMA. On the downside, break of 0.7109 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7145; (P) 0.7160; (R1) 0.7188; More…

AUD/USD is staying in consolidation from 0.7243 and intraday bias remains neutral first. As long as 0.7076 support holds, another rally could still be seen. Break of 07243 will resume larger rise from 0.5506. Nevertheless, considering bearish divergence condition in 4 hour MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7145; (P) 0.7160; (R1) 0.7188; More…

Intraday bias in AUD/USD remains neutral as sideway consolidations continue. As long as 0.7076 support holds, another rally could still be seen. Break of 07243 will resume larger rise from 0.5506. Nevertheless, considering bearish divergence condition in 4 hour MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

AUD/USD stays in consolidation below 0.7243 last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 0.7076 support holds, another rally could still be see. Break of 07243 will resume larger rise from 0.5506. Nevertheless, considering bearish divergence condition in 4 hour MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7311) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.7128; (P) 0.7158; (R1) 0.7180; More…

Intraday bias in AUD/USD remains neutral as range trading continues. Considering bearish divergence condition in daily MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support, for correcting the whole rise form 0.5506. Though, break of 0.7243 resistance will extend the rise to 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6790). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7123; (P) 0.7149; (R1) 0.7190; More…

Sideway consolidation continues in AUD/USD and intraday bias remains neutral first. Considering bearish divergence condition in daily MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support, for correcting the whole rise form 0.5506. Though, break of 0.7243 resistance will extend the rise to 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6790). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7123; (P) 0.7156; (R1) 0.7178; More…

Intraday bias in AUD/USD remains neutral at this point. Considering bearish divergence condition in daily MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support, for correcting the whole rise form 0.5506. Though, break of 0.7243 resistance will extend the rise to 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6790). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7131; (P) 0.7158; (R1) 0.7175; More…

AUD/USD is staying in range below 0.7243 and intraday bias remains neutral first. Considering bearish divergence condition in 4 hour MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support, for correcting the whole rise form 0.5506. Though, break of 0.7243 resistance will extend the rise to 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6790). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7122; (P) 0.7183; (R1) 0.7220; More…

Intraday bias in AUD/USD remains neutral at this point. Considering bearish divergence condition in 4 hour MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support, for correcting the whole rise form 0.5506. Though, break of 0.7243 resistance will extend the rise to 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6790). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

AUD/USD edged higher to 0.7243 last week but retreated quickly again. Initial bias stays neutral this week first. Upside momentum remain unconvincing, with bearish divergence condition in 4 hour MACD. Break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support, for correcting the whole rise form 0.5506. Though, break of 0.7243 resistance will extend the rise to 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6790). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7311) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.7194; (P) 0.7217; (R1) 0.7260; More…

Intraday bias in AUD/USD remains on the upside at this point. Current rise form 0.5506 should target 0.7311 long term EMA. On the downside, break of 0.7076 support should confirm short term topping. That will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7150; (P) 0.7196; (R1) 0.7237; More…

AUD/USD’s breach of 0.7227 suggests resumption of larger rise form 0.5506. Intraday bias is back on the upside for 0.7311 long term EMA. On the downside, break of 0.7076 support should confirm short term topping. That will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7124; (P) 0.7146; (R1) 0.7185; More…

Intraday bias in AUD/USD remains neural as range trading continues. On the upside, break of 0.7227 will resume the rise form 0.5506 to 0.7311 long term EMA. On the downside, break of 0.7063 confirm short term topping. That will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7083; (P) 0.7117; (R1) 0.7157; More…

AUD/USD is holding in range of 0.7063/7227 and intraday bias remains neutral first. Daily and 4 hour MACDs suggest that a short term top could have been formed. On the downside, break of 0.7063 will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506. Nevertheless, above 0.7227 will extend the rally towards 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7108; (P) 0.7167; (R1) 0.7202; More…

Intraday bias in AUD/USD remains neutral at this point. Upside momentum has been clearly diminishing as seen in 4 hour MACD and a short term top should be around the corner. On the downside, break of 0.7063 will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506. Nevertheless, above 0.7227 will extend the rally towards 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

AUD/USD’s rise continued last week and edged higher to 0.7227, but retreated since then. Upside momentum has been clearly diminishing as seen in 4 hour MACD and a short term top should be around the corner. Initial bias is neutral this week first. On the downside, break of 0.7063 will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506. Nevertheless, above 0.7227 will extend the rally towards 0.7323 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7323). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6777). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7324) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.